Microsoft hits $3 trillion, cementing strength of AI rally

Microsoft achieved a historic $3 trillion market valuation on Wednesday, in the latest example of how optimism over artificial intelligence has fueled a seemingly unstoppable advance in the software giant.

The stock rose as much as 1.6% to $405.13, resulting in a market capitalization of just over $3 trillion. The threshold cements Microsoft’s status as one of the largest public stocks. It briefly surpassed Apple Inc. — which last year became the first company to ...